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  1. Resources & Litigation
  2. Letters/Memos

Letters & Memos


  • Letters & Memos
    Mar 30, 2021

    Income Share Agreements and TILA’s Ban on Prepayment Penalties

    This memo explores how the Truth in Lending Act’s (TILA) consumer protections prohibit a prominent feature of Income Share Agreements (ISAs) known as a “prepayment penalty”—a lending industry practice that forces borrowers to pay an extra sum if they want to pay off a debt early.

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  • Investigations Letters & Memos
    Mar 11, 2021

    SBPC Investigation Finds Coding Bootcamps Offering ISAs May Be Unlawfully Depriving Students of the Ability to Protect Themselves from Fraud

    In a memo, the SPBC highlights how ISA companies are unlawfully depriving students of the ability to protect themselves from fraud by leaving out of their ISA contracts language required under the Federal Trade Commission’s (FTC) “Holder Rule.”

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  • Letters & Memos
    Mar 10, 2021

    The Campaign for California Borrowers’ Rights Call on the CA Department of Financial Protection and Innovation to Create Strong Protections for Student Loan Borrowers

    In a letter sent to the Commissioner Alvarez, the Campaign for California Borrowers’ Rights—a coalition of advocacy organizations committed to protecting student loan borrowers—calls on the newly created California Department of Financial Protection and Innovation to use its authorities to engage in diligent supervision, proactive enforcement, deliberate rulemaking, and smart data collection to protect California’s 3.8 million student loan borrowers.

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  • Letters & Memos
    Mar 10, 2021

    SBPC and the Center for Consumer Law & Economic Justice at the UC Berkeley School of Law Call on the CFPB to Crack Down on Predatory For-Profit Schools

    This issue brief, from the SPBC and the Center for Consumer Law & Economic Justice at the University of California, Berkeley, School of Law, examines how the Consumer Financial Protection Bureau has the authority to take action to crack down on predatory for-profit schools.

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  • Letters & Memos
    Mar 2, 2021

    Student Borrower Advocates Call on Lawmakers to Confirm Rohit Chopra as Next CFPB Director

    34 advocacy organizations call on Senate Banking Committee to swiftly confirm Chopra as next Director of the CFPB.

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  • Letters & Memos
    Feb 16, 2021

    SBPC and NCLC Demand Washington Stand Up for Millions of Student Loan Borrowers Struggling Without Relief During COVID

    In a letter to Acting Secretary of Education Philip Rosenfelt, the SBPC and the National Consumer Law Center (NCLC) urged immediate action to assist millions of student loan borrowers forgotten by Washington during COVID.

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  • Letters & Memos
    Feb 11, 2021

    Advocates Call on CFPB to Prioritize the Student Debt Crisis as a Civil Rights Crisis

    The SBPC sent a letter to the urging that any efforts focused on removing barriers to societal equity must acknowledge the racially disparate effects of the student debt crisis and the decades-long failure to effectively regulate the student loan industry.

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  • Letters & Memos
    Oct 21, 2020

    Advocates Warn Specialty Student Lender Climb Credit May be Deceiving Borrowers and Engaging in Pervasive Consumer Protection Violations

    The SBPC sent a letter to the CFPB warning of troubling business practices and possible borrower harm by Climb Credit, a specialty lender that provides financing for education and vocational training courses.

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  • Investigations Letters & Memos
    Aug 21, 2020

    Advocates Sound Alarm on PayPal’s Education Financing Partnerships with Over 150 For-Profit Schools

    SBPC, Allied Progress, Americans for Financial Reform, and Student Debt Crisis sent letters to the CEO of PayPal, Inc. and its regulators warning that the tech firm may be driving significant harm to borrowers attending for-profit schools.

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  • Letters & Memos
    Aug 4, 2020

    SBPC and Partners Urge CFPB to Protect Borrowers During LIBOR Transition

    SBPC, the National Consumer Law Center, and Americans for Financial Reform, call on the CFPB to better protect consumers during the transition away from LIBOR.

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